RPC, Inc. (RES) to Post Q1 2018 Earnings of $0.33 Per Share, SunTrust Banks Forecasts
RPC, Inc. (NYSE:RES) – Analysts at SunTrust Banks lifted their Q1 2018 EPS estimates for shares of RPC in a report released on Wednesday. SunTrust Banks analyst K. Sill now expects that the oil and gas company will post earnings per share of $0.33 for the quarter, up from their prior estimate of $0.27. SunTrust Banks also issued estimates for RPC’s Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.44 EPS and FY2019 earnings at $1.69 EPS.
Several other analysts also recently weighed in on RES. B. Riley restated a “buy” rating on shares of RPC in a research report on Wednesday, November 1st. Morgan Stanley downgraded RPC from an “equal weight” rating to an “underweight” rating in a research report on Tuesday. BMO Capital Markets increased their target price on RPC from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday. Cowen and Company set a $24.00 target price on RPC and gave the company a “hold” rating in a research report on Friday, October 6th. Finally, FBR & Co set a $27.00 target price on RPC and gave the company a “buy” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. RPC has an average rating of “Hold” and a consensus price target of $23.97.
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Shares of RPC (NYSE RES) opened at $24.15 on Monday. RPC has a 1 year low of $16.63 and a 1 year high of $26.45. The firm has a market capitalization of $5,362.66, a price-to-earnings ratio of 63.49, a P/E/G ratio of 1.70 and a beta of 1.16.
RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). RPC had a return on equity of 10.31% and a net margin of 6.03%. The business had revenue of $471.00 million for the quarter, compared to the consensus estimate of $474.41 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. RPC’s quarterly revenue was up 167.8% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from RPC’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 9th. RPC’s dividend payout ratio (DPR) is 73.69%.
In related news, Director Amy Rollins Kreisler acquired 5,000 shares of the stock in a transaction dated Friday, October 27th. The stock was bought at an average cost of $23.21 per share, for a total transaction of $116,050.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $116,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 73.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RES. UBS Asset Management Americas Inc. grew its stake in RPC by 48.9% during the first quarter. UBS Asset Management Americas Inc. now owns 43,792 shares of the oil and gas company’s stock worth $802,000 after purchasing an additional 14,380 shares during the period. Prudential Financial Inc. grew its stake in RPC by 96.7% during the first quarter. Prudential Financial Inc. now owns 33,620 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 16,530 shares during the period. Wellington Management Group LLP grew its stake in RPC by 348.7% during the first quarter. Wellington Management Group LLP now owns 104,788 shares of the oil and gas company’s stock worth $1,919,000 after purchasing an additional 81,434 shares during the period. Legal & General Group Plc grew its stake in RPC by 110.0% during the first quarter. Legal & General Group Plc now owns 24,330 shares of the oil and gas company’s stock worth $445,000 after purchasing an additional 12,747 shares during the period. Finally, Vanguard Group Inc. grew its stake in RPC by 15.4% during the first quarter. Vanguard Group Inc. now owns 5,048,305 shares of the oil and gas company’s stock worth $92,434,000 after purchasing an additional 672,810 shares during the period. 38.08% of the stock is owned by institutional investors and hedge funds.
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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